By IANS,
New Delhi : A government-constituted panel on oil sector reforms Wednesday suggested total decontrol of oil prices, while recommending an immediate increase in prices of kerosene by Rs.6 per litre.
The committee headed by economist Kirit Parikh also pegged the losses of state-run oil marketing companies at Rs.40,000 crore on account of having to sell transport fuels at below cost.
“There is no way we can continue with the current pricing policy,” said Parikh while discussing the recommendations here.